Johannesburg –
Dual-listed junior miner says it is seeking to have a claim against it
dismissed with costs.
This comes after
Hebei Zhongheng Tianda Platinum Company in December filed a civil claim against
it.
In a statement
at the time, the dual-listed miner says HZT has filed a claim against it and
several of its subsidiaries in the British Columbia Supreme Court because of an
alleged repudiation and breach of a share purchase agreement.
On Tuesday,
Eastplats said it had filed its response against the claim.
This agreement
dates back to June 28 and was signed by Eastplats’ former management.
The law suit
seeks, among other relief, to force Eastplats to comply with the purchase
agreement.
Failing which,
HZT wants damages and costs.
“The company
intends to vigorously defend against the action and to refute many of the facts
and allegations made in the claim.
“Once the
company and its subsidiaries have been formally served with the claim they will
respond in due course.”
In June, Eastplats
said it had agreed to sell Crocodile River Mine and associated intercorporated
investments and loans for $50 million to the Chinese company.
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to buy out minority shareholders
As part of this
deal, it would also buy out certain minority interests.
“The company
announces that it has reached agreement with certain holders of the minority
interests to buy their interests in all the company’s projects, including but
not limited to, the Crocodile River Mine for a total of $13 million,” it said.
In the 6 months
to June, its loss widened to 29c a share from 5c a share.
BUSINESS REPORT ONLINE